S-22 - Act respecting the Société québécoise d’initiatives pétrolières

Section 9.2 Disposition versions

1981-04-01

9.2. The Minister of Finance is authorized to pay to the Company, out of the consolidated revenue fund, with the prior approval of the Government and on such conditions as it may fix, a sum of $15 000 000 for 300 000 fully paid-up shares of its capital stock.

Payment may be made in one or several instalments, as the activities of the Company may require; if it is made in several instalments, each instalment must be submitted for the approval contemplated in the first paragraph. The Minister of Finance may fix the payment period for each instalment.

Every order of approval issued by the Government must be tabled before the National Assembly.

1980, c. 27, s. 4.